Gap Inc. Taps Walmart Advisor Michael Francis to Lead Old Navy — The Gap, Inc.

Event summary

Michael Francis appointed as President and CEO of Old Navy, effective November 2, 2026.
Francis succeeds Haio Barbeito, who transitions to an advisory role.
Francis previously served as Chief Customer Officer at Old Navy and has extensive retail experience, including roles at Walmart, Target, and JCPenney.
Old Navy has grown annual revenue by nearly $500 million since the beginning of its transformation.

The big picture

Gap Inc.'s appointment of Michael Francis to lead Old Navy underscores the retailer's push to strengthen its position as the #1 specialty apparel brand in the U.S. Francis's extensive experience in commercial, brand, and customer leadership, particularly his role in advising Walmart's transformation into an omni-channel retailer, suggests a strategic focus on integrating digital and in-store experiences. The transition comes as Old Navy has already seen significant revenue growth, positioning the brand for further expansion in a competitive retail landscape.

What we're watching

Brand Relevance: How Francis's focus on storytelling and cultural relevance will impact Old Navy's market position.
Omni-Channel Strategy: The pace at which Old Navy enhances its omni-channel customer experience under new leadership.
Execution Risk: Whether Francis can sustain Old Navy's recent revenue growth momentum.